The counter has completed its short-term bull cycle by completing 5 waves.
It is taking support at the lower levels and is absorbing the selling pressure by forming an ascending triangle.
The resistance of 72.50 currently caps the rally and a breach above it can result in significant short-covering in the counter.
Hence, we advise traders to buy only above 72.5 for a move to resistance of 76.102.
It is taking support at the lower levels and is absorbing the selling pressure by forming an ascending triangle.
The resistance of 72.50 currently caps the rally and a breach above it can result in significant short-covering in the counter.
Hence, we advise traders to buy only above 72.5 for a move to resistance of 76.102.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.